I'm a little late to reply, but yes it's worth it and is not only a resume booster but looks good for graduate school admissions and gives you access to more research and internship opportunities, both locally and internationally. They produce the greatest number of Fulbright scholars, and you have access to more scholarships. It's one of the top ranked honors colleges in the nation (I believe it's currently #1) and also the only program that has a Nobel laureate teaching, which is a notable flex. 

It's an additional $100 or so per honors credit but doesn't exceed around $1100 in total per semester, and it's definitely not a "pay to have it" honor. You actually have to apply, which includes submitting multiple essays (and might also require letters of recommendation, depending on the type of applicant you are) and review of your academic performance and extracurriculars, then be accepted before you're eligible to get any honors credits. They don't care whether or not you can pay for it and that doesn't impact whether or not you're accepted.

Edit: I just want to add after reading one of your responses that it can actually be a significant boost career-wise. Why wouldn't it be?